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Infosys Announced Share Buyback to Uplift Infosys Share Price

by Financegossips

Infosys Share Buyback

Infosys will buyback 50,270,270 (around 5 crore) equity shares from the investors, which is around 1.19% of total shares.

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Important dates

Board meeting for buyback approval and buyback approval date was October 13, 2022 and other dates like record date, etc. are unannounced.

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Purpose of share buyback

Infosys is buying back its shares to enhance earnings per share (EPS) and return on equity (ROE).

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price data

Infosys buyback price is Rs 1,850 per share and its current market price is around Rs 1,477 which means company is buying shares at premium of 30%

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Infosys' Previous buybacks

The upcoming buyback is company's 4th share buyback. Before it company has bought back its shares for 3 times in years of 2017, 2019, 2021.

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Infosys' q2 earnings

On 13th October, the company announced its Q2 results where it reported a consolidated profit of Rs 6,021 Cr, which is 12.3% higher than the previous quarter.

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Company's info

Infosys provides consulting, outsourcing, technology, and digital services to its clients which help them in their digital transformation.

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Fact about infosys

Infosys is 2nd largest information technology (IT) company in India after Tata Consultancy Services (TCS).

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Need of Buyback

It is true that Infosys is 2nd largest IT company, but still it is buying back its shares to boost shareholder return and hold falling share price. 

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